8 Quick Financial Fixes You Can Tackle in Under an Hour
Small adjustments to personal finances can have a significant impact, and a new report highlights several tasks consumers can complete in an hour or less to improve their financial well-being.
Experts recommend regularly reviewing your credit report for errors, as nearly half of all reports contain inaccuracies that can negatively affect your credit score. Consumers can access their reports for free at AnnualCreditReport.com. “Look for accounts that don’t belong to you, wrong names and addresses and anything else you don’t recognize,” said Ted Rossman, a senior industry analyst at Bankrate. Additionally, freezing your credit is a strong defense against identity theft, effectively preventing anyone from opening new accounts in your name.
For those carrying credit card debt, transferring balances to a zero-APR credit card can provide a promotional period – typically 12 to 21 months – to pay down debt without accruing interest. However, approval isn’t guaranteed and depends on creditworthiness. Another simple step is to open a high-yield savings account, with many online banks currently offering rates between 3.5% and 4%, a significant improvement over the less than 3% earned by many savers, according to Vanguard. You can learn more about maximizing your savings here.
Beyond debt and savings, consumers can also save money by shopping around for auto insurance – rates are projected to rise 7.5% in 2025 – and auditing unused subscriptions, which collectively cost Americans around $200 per year, according to a recent CNET survey. Finally, increasing 401(k) contributions, even by a small percentage, can significantly boost retirement savings; the maximum contribution for 2025 is $23,500. “If you’re saving 10%, can you make it 11?” Rossman said. “The point is, especially if you do it gradually, you probably won’t even miss the money.”
Financial planners encourage individuals to prioritize these small steps, as consistent effort can lead to substantial long-term financial gains.
